Jacobs & Co. CA reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,789 shares of the industrial products company’s stock after selling 1,038 shares during the quarter. Jacobs & Co. CA’s holdings in Hubbell were worth $3,257,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in HUBB. CENTRAL TRUST Co lifted its holdings in shares of Hubbell by 125.0% in the 2nd quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock valued at $45,000 after buying an additional 200 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Hubbell by 7.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,100 shares of the industrial products company’s stock valued at $1,187,000 after buying an additional 600 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Hubbell by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 21,972 shares of the industrial products company’s stock valued at $2,865,000 after buying an additional 312 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Hubbell by 5.0% in the 2nd quarter. New York State Teachers Retirement System now owns 82,170 shares of the industrial products company’s stock valued at $10,715,000 after buying an additional 3,900 shares during the period. Finally, YorkBridge Wealth Partners LLC acquired a new stake in shares of Hubbell in the 2nd quarter valued at approximately $258,000. Institutional investors own 85.92% of the company’s stock.
Several analysts have recently commented on HUBB shares. G.Research reissued a “buy” rating on shares of Hubbell in a report on Wednesday, August 21st. Morgan Stanley set a $138.00 price target on Hubbell and gave the company a “hold” rating in a report on Wednesday, July 31st. Gabelli started coverage on Hubbell in a report on Wednesday, August 21st. They issued a “buy” rating and a $160.00 price target for the company. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on Hubbell from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $146.67.
In related news, VP Joseph Anthony Capozzoli sold 1,243 shares of Hubbell stock in a transaction on Friday, November 1st. The stock was sold at an average price of $142.39, for a total transaction of $176,990.77. Following the completion of the transaction, the vice president now directly owns 10,812 shares of the company’s stock, valued at $1,539,520.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rodd Richard Ruland sold 3,594 shares of Hubbell stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.96, for a total value of $517,392.24. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
HUBB stock traded up $1.46 during midday trading on Friday, hitting $145.50. 207,305 shares of the stock were exchanged, compared to its average volume of 312,314. The stock’s 50-day moving average price is $135.49 and its 200-day moving average price is $128.38. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.94 and a beta of 1.50. Hubbell Incorporated has a fifty-two week low of $91.88 and a fifty-two week high of $146.81. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.33 and a current ratio of 2.09.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.07. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Hubbell had a return on equity of 23.47% and a net margin of 8.34%. Hubbell’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. Research analysts anticipate that Hubbell Incorporated will post 8.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is a boost from Hubbell’s previous quarterly dividend of $0.84. This represents a $3.64 annualized dividend and a yield of 2.50%. Hubbell’s payout ratio is currently 46.09%.
Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies for the natural gas distribution market.
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